Square CFO Sarah Friar to step down, stock falls 4%

Fee firm Sq.’s chief monetary officer Sarah Friar will step down, and take a job as CEO of Nextdoor, the corporate introduced Wednesday.

Shares of the startup, run by Twitter CEO Jack Dorsey, dropped greater than four % in after-hour buying and selling.

“I am saddened by the information,” Sq. CEO Jack Dorsey mentioned in word to workers. “I used to be unrealistically anticipating to be working with Sarah properly into our late 90s (swapping the standup tables for rocking chairs). Unrealistic as a result of I knew of Sarah’s lifelong ambition to run her personal firm.”

The present CEO of Nextdoor, a social community for native neighborhoods based in 2010 introduced plans to step down from his function after virtually eight years Wednesday.